International Game Technology Shares Hit Jackpot on Possible Sale

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International Game Technology Shares Hit Jackpot on Possible Sale

by TheStreet 0:46 mins

International Game Technology Shares Hit Jackpot on Possible Sale

by TheStreet 0:46 mins

Shares of International Game Technology jumped on Monday making it TheStreet's Move of the Day. The company known for making slot machines has hired Morgan Stanley to find a potential buyer as the gaming industry moves into a consolidation phase to offset sluggish growth, Reuters reported on Monday, citing people familiar with the matter. The report said that the company is hosting management presentations for possible buyers. International Game Technology already is going through a rough year, with shares down more than 25% year to date. But shares surged on Monday 5.4 percent to $13.19, making it on Wednesday the second-best performer in the S&P 500.

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